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08/10/2021
Unemployment Rate Headed to a 50-year Low
Predictions are the labor market will maintain its momentum well into 2022
Goldman Sachs sees the U.S. labor market maintaining its momentum well into 2022.
Economists at the firm led by Jan Hatzius lowered their year-end 2021 unemployment rate forecast slightly to 4.1 percent on Monday. For 2022, Hatzius and his team projects a 3.5 percent unemployment rate. If achieved, the unemployment rate would be at a 50-year low as the economy powers back from the COVID-19 pandemic.
Employment at those levels in 2022 would bring the economy to full employment, Hatzius said.
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